Wells Fargo lowered the firm’s price target on Darden (DRI) to $200 from $225 and keeps an Equal Weight rating on the shares. While Darden comparable sales were good, weak flow-thru is a pinch point into rising beef costs and value investments, the firm says. While Darden is taking share, second half of the year trend moderation and limited RLM flex keep Wells sidelined.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DRI:
- Darden price target lowered to $225 from $240 at KeyBanc
- Darden price target lowered to $230 from $255 at Barclays
- Darden Restaurants Reports Strong First Quarter Growth
- Cautious Optimism for Darden Restaurants Amid Olive Garden’s Market Challenges and Potential Uber Eats Expansion
- Darden price target lowered to $208 from $230 at Baird